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Contracts Keyed to Fuller
Masterson v. Sine
Citation:
Supreme Court of California, 1968. 68 Cal.2d 222, 65 Cal.Rptr. 545, 436 P.2d 561.Facts
Dallas and Rebecca Masterson (Plaintiffs) conveyed their ranch via a grant deed to Medora and Lu Sine (Defendants), but reserved the option to repurchase the property within ten years of the date of conveyance. Medora Sine is Dallas’ sister and Lu’s wife. The deed stated that the Mastersons could exercise this option by paying the same amount of consideration as was provided by the Sines, minus any depreciation in the value of the property. After the conveyance, Dallas’ filed for bankruptcy. His trustee in bankruptcy and Rebecca brought a declaratory relief action to enforce the option.
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